QSI Securities Settlement

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QSI Securities Settlement
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The information contained on this web page is only a summary of information presented in more detail in the Notice of (I) Pendency of Class Action and Proposed Settlement; (II) Settlement Hearing; and (III) Motion for Attorneys’ Fees and Expenses (the “Notice”), which you can access by clicking here.  Since this website is just a summary, you should review the Notice for additional details.

Court-appointed Lead Plaintiffs, City of Miami Fire Fighters’ and Police Officers’ Retirement Trust and Arkansas Teacher Retirement System, on behalf of themselves and the Class, have reached a proposed settlement of the Litigation for $19 million in cash with defendants Quality Systems, Inc. (“QSI”), Steven T. Plochocki, Paul Holt, and Sheldon Razin that, if approved, will resolve all claims in the Litigation (the “Settlement”).

If you are a member of the Class, your rights will be affected and you may be eligible for a payment from the Settlement, unless you timely request to be excluded.  The Class consists of:

all persons and entities who purchased or otherwise acquired QSI common stock during the period from May 26, 2011 through July 25, 2012, inclusive (the “Class Period”), and were damaged thereby, except for certain persons and entities who are excluded from the Class by definition (see paragraph 18 of the Notice) or who request exclusion pursuant to the instructions set forth in the Notice (see paragraphs 58 to 61 of the Notice).

Please read the Notice to fully understand your rights and options. Copies of the Notice and Claim Form) can be found on the menu at the left of this page.

Payments to eligible claimants will be made only if the Court approves the Settlement and a plan of allocation, and only after any appeals are resolved, and after the completion of all claims processing. Please be patient, as this process will take some time to complete.

IMPORTANT DATES

December 12, 2018

Claim Filing Deadline. Claim Forms must be postmarked no later than December 12, 2018 to be eligible for a payment from the Settlement.

October 29, 2018

Exclusion Deadline. To exclude yourself from the Class, you must submit a written request for exclusion so that it is received no later than October 29, 2018, in accordance with the instructions in the  Notice.

October 29, 2018

Objection Deadline. Any objections to the proposed Settlement, the proposed Plan of Allocation, and/or the request for attorneys’ fees and expenses, must be received no later than October 29, 2018, in accordance with the instructions in the  Notice.

November 19, 2018 at 1:30 p.m.

The Settlement Hearing. The Settlement Hearing will be held on November 19, 2018 at 1:30 p.m., before the Honorable Cormac J. Carney at the United States District Court, Central District of California, Southern Division, First Street U.S. Courthouse, 350 W. 1st Street, Los Angeles, CA 90012, Courtroom 7C.  The Settlement Hearing will be held by the Court to consider the fairness, reasonableness, and adequacy of the proposed Settlement, the proposed Plan of Allocation, and the application by Lead Counsel for attorneys’ fees and litigation expenses.

 

Please read the Notice carefully.  If you have questions, you may call the QSI Securities Litigation Help Line at 866-963-9980 or email info@QSISecuritiesSettlement.com.  


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